Tiffany & Co loses some of its sparkle

Tiffany & Co loses some of its sparkle View Gallery
Tiffany & Co has seen its sales dip by 7.4 per cent in recent months

Luxury jewellery retailer Tiffany & Co has reported its biggest dip in net sales since 2009. The company’s net sales dropped 7.4 per cent to $891.3 million for the three months to the end of April.

“As expected, this was a difficult quarter in terms of both sales and earnings growth. We faced numerous challenges, including continued pressure from foreign tourist spending in Europe, the US and Asia, particularly in Hong Kong.”

Frederic Cumenal, chief executive, Tiffany...

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